Thanks Jim!
This is a huge deal. Looks like we gapped higher, especially on the unleaded but have sold off since then but are still higher.
Still holding the gap higher in the products......which are using the top of the bullish gap higher as support.
Gap filled meas a gap and crap failed breakout and buying exhaustion.
What I read is the thinking is they paid the ransom, now they just have to get back up and running.
I’m thinkin that this could probably be that proverbial last straw. Too many people, some of which could be ‘black ops’ organizations, have been or are being harmed. If I was one of the hacker group, I’d take my accumulated money and try to disappear. Wouldn’t surprise me to hear that a ‘natural gas explosion’ or some such event killed a small number of people overseas, probly Russia or N Korea.
Maybe I’ve just read too many Clancy, Flynn, Beltzer etc., but I think the ax is about to descend on these maggots. Will be an interesting next book.
https://www.bbc.com/news/business-57050690
A cyber-criminal gang that took a major US fuel pipeline offline over the weekend has acknowledged the incident in a public statement.
"Our goal is to make money and not creating problems for society," DarkSide wrote on its website.
The US issued emergency legislation on Sunday after Colonial Pipeline was hit by a ransomware cyber-attack.
The pipeline carries 2.5 million barrels a day - 45% of the East Coast's supply of diesel, petrol and jet fuel.
The operator took itself offline on Friday after the cyber-attack. Work to restore service is continuing.
On Monday, the FBI officially confirmed that DarkSide was responsible for compromising Colonial Pipeline's networks, saying that it was continuing to work with the firm and other government agencies on the investigation.
During a speech about the economy at the White House on Monday, US President Joe Biden said that he was being "personally briefed" on the situation with the pipeline each day.
"The agencies across the government have acted quickly to mitigate any impact on our fuel supply," he said.
"We're prepared to take additional steps depending on how quickly the company is able to bring its pipeline back up to capacity."
A number of cyber-security researchers, including firms contacted by the BBC, have speculated that the cyber-criminal gang could be Russian, as their software avoids encrypting any computer systems where the language is set as Russian.
Mr Biden said that the US government was concerned about this aspect of the cyber-attack.
"I'm gonna be meeting with President Putin and so far there is no evidence, based on our intelligence people, that Russia is involved," he said.
"Although, there's evidence that the actors' ransomware is in Russia - they have some responsibility to deal with this."
DarkSide posted a statement on its website on Monday, describing itself as "apolitical".
https://thehill.com/policy/energy-environment/552751-5-takeaways-from-attack-on-colonial-pipeline
https://www.eia.gov/petroleum/weekly/
Colonial Pipeline is a major mode of shipping for transportation fuels and other refined petroleum products that spans from the U.S. Gulf Coast to the East Coast. On Friday, May 7, the pipeline halted operations to contain the effects of a cyberattack. As of Wednesday, May 12, the pipeline had not resumed operations of its main lines, although some smaller lines are still operational. The company announced that it hopes to restore service by the end of the week.
Crude Inventories
https://www.investing.com/economic-calendar/eia-crude-oil-inventories-75
Latest Release May 12, 2021 Actual-0.427M Forecast-2.817M Previous-7.990M
Release DateTimeActualForecastPrevious
May 12, 2021 10:30-0.427M-2.817M-7.990M
May 05, 2021 10:30-7.990M-2.346M0.090M
Apr 28, 2021 10:30
0.090M0.659M0.594M
Apr 21, 2021 10:300.594M-2.975M-5.889M
Apr 14, 2021 10:30-5.889M-2.889M-3.522M
Apr 07, 2021 10:30-3.522M-1.436M-0.876M
Current gas prices.
https://www.gasbuddy.com/GasPriceMap?z=4&lng=-96.591588&lat=38.822395
metmike: This map below doesn't look accurate for the East Coast, where I read that several areas were spiking much higher than this!
| Weekly US ending stocks of crude oil. https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=WCRSTUS1&f=W Weekly ending stocks for unleaded gasoline. https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=WGTSTUS1&f=W Weekly US ending stocks for distillate fuel oil(heating oil-especially used in the Northeast). https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=WDISTUS1&f=W |